Wrong Accrual After Prepayment Of A Contract With Act/act (Doc ID 3067039.1)

Last updated on JANUARY 21, 2025

Applies to:

Symptoms

On : 14.6.0.0.0 version, Implementation Support

ACTUAL BEHAVIOR
---------------
Wrong accrual after prepayment of a contract with act/act
For a contract with basis actual/actual, When there is a prepayment with cut off for a schedule falling in leap and non-leap year, system is calculating wrong accrual values after the payment.

EXPECTED BEHAVIOR
-----------------------
Expectation: System should consider 366 as basis for calculation for no of days in 2024 and 365 for no of days in 2025.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Create a contract with basis as act/act having 4 schedule.
2. first 2 schedules start and end date in 2024(leap), 3rd schedule start date date in 2024(leap) and end date in 2025(non-leap), fourth schedule start and end date in 2025(non leap)
3. Pay first schedule on due date.
4. Pay 2nd schedule on due date.
5. Run 1 EOD.
6. Prepay schedule 3 fully such that cut off is also applied.
7. Check interest amount for last schedule.
8. As result : System is considering 366 as basis for complete schedule starting from payment date.

Changes

Cause

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.